Abstract: The current situation and development trend of virtual reality (VR) and augmented reality (AR) industry are introduced. In terms of display technology, the main technical proposals of current VR/AR equipment are reviewed. The advantages and disadvantages of these technical schemes are compared in detail. Aimed at the issues of these technical solutions, the advantages of holographic optical technology are put forward and the role of holographic optical technology in VR/AR industry is clarified. The latest developments of holographic optics in near eye display are investigated. The significance of these achievements for VR/AR industry is addressed. Finally, the challenges faced by holographic optics in VR/AR industry are analyzed. The development trend of VR/AR industry based on holographic optics is also predicted.